PRICE IS A RESULT
Ask yourself- is this prompt something that shifts a curve? Or something that makes me move ALONG a curve
Ask yourself- is this prompt something that shifts a curve? Or something that makes me move ALONG a curve
CHANGE IN DEMAND
T Tastes and Preferences R Related goods (Substitutes and Compliments) I Income P Population E Expected prices (consumer) |
Change in Supply
N Natural or Man made phenomenon I Input costs C Competition E Expected prices (producer) J Joint Supply goods A Alternate goods in production G Government Action (tax, regulation, subsidy) |